UPDATE 1-CME to reconsider planned ag settlement changes

CHICAGO, Nov 23 (Reuters) - The CME Group (CME.O) said Monday it would not implement planned changes to its settlement procedures for Chicago Board of Trade agricultural futures, in order to allow for additional analysis.

The changes, which included tying settlements for some deferred corn and soy complex contracts to the electronic Globex platform, were announced last week for implementation on Dec. 1.

"In light of feedback received since the time the changes were announced," CME Group said in a statement, "a determination has been made to not move forward with the announced changes in order to allow for additional analysis of the settlement procedures."

The exchange said it would continue to employ its current closing and settlement rules "for the present time" and would "further evaluate possible refinements to the agricultural futures' settlement methodology to ensure that it serves the marketplace's need for accurate and transparent settlement price determinations."

The CME Group announced the changes on Nov. 17 and held a meeting about the changes on the CBOT trading floor on Nov. 19.

The full text of the CME Group's announcement is available at: link.reuters.com/qep23g (Reporting by Julie Ingwersen; Editing by Lisa Shumaker) ((julie.ingwersen@thomsonreuters.com; +1 312-408-8720; Reuters Messaging: julie.ingwersen.reuters.com@reuters.net))